The global energy harvesting market size was around USD 574.5 million in 2021 and is expected to surpass USD 1020 million by 2030, expanding at a (CAGR) of 7.1% during the forecast period, 2022–2030. The market growth is attributed to the increasing use of renewable energy and energy harvesting systems for home and building automation.
Energy harvesting is the conversion of ambient energy present in the environment to electric energy which can be stored for small, wireless autonomous devices such as wireless sensor networks and electronic smart wearables. The stored energy is converted into the electric energy that can be used later for different applications.
Energy harvesting covert the small amount of energy which is anyhow wasted in the form of light, heat, and vibrations. Energy harvesting systems use different energies in form of technologies such as vibration energy, light energy, thermal energy, and radio frequency energy. These systems widely used for home and building automations. The harvested energy can be used for autonomous electronic devices with no conventional power.
Energy harvesting systems are using components such as transducer, sensor power management IC, secondary/ backup battery to convert the energy. Energy harvesting eliminates the process of frequently replacing the electronic batteries. Most widely used energy harvesting devices are using thermal, solar, piezoelectric, and RF sources of energy.
Energy harvesting which is based on renewable energy enables IOT devices to generate electrical energy by absorbing ambient energy. Energy harvesting offers advantages over conventional batteries such as safe operations and low maintenance resulting in long-lasting and reliable solutions.
COVID-19 Impact
The market report finds that the COVID-19 pandemic hampered the global energy harvesting market due to sudden decline in demand for the consumers electronics and construction of buildings. Owing to the total dependency of the global energy harvesting market on the construction sector and consumer smart wearables, this market had a major setback due to the temporary shutdown around the globe.
Due to the COVID-19 pandemic social distancing guideline, shortage of working labors on the construction sites hindered the major market. The rise in COVID-19 infection among the workers led the temporary shutdown of the major construction sites and further delays in the deadlines of the projects.
During the pandemic, the sharp decline in the demand for electronic smart wearables among the consumers was due to the temporary shutdown of the production factories and lack of transportation services to deliver the smart wearables and home appliances.
Energy Harvesting Market Dynamics
The research report presents a complete overview by providing detailed information about the current market trends, existing drivers, growth opportunities and potentials, and emerging challenges. The energy harvesting market report has up-to-date insights about market dynamics and market scenarios that can shape the overall market performance and output during the forecast period, 2022 to 2030.
Major Drivers
Increasing adaptation of IOT devices in automation and energy harvesting systems for building and home appliances
Rising adaptation of Internet of Things (IOT) devices which uses harvested energy for automation for home appliances. IOT devices offer automation for home appliances such as for security access, fire safety, and lighting controls. Sensor network is used for data collecting of all IOT devices. IOT devices are driving the need for maintenance-free wireless devices. This need can for IOT devices can drive the global energy harvesting market.
Rising use of solar energy-based appliances for industrial and consumer applications
The rapid growth in use of solar energy-based appliances for consumer and industrial applications such as streetlights, portable power supplies, toys, and others. Small solar cells are used for all these appliances which are made of harvested energy. Increasing initiation from governments to use solar energy-based streetlights can boost the global energy harvesting market.
Existing Restraints
High cost of harvesting and storing naturally generated electrical energy
The high cost of harvesting and storing naturally generated electrical energy can hinder the global energy harvesting market. Energy harvester are expensive compared to the overall cost of wireless sensor. Due to high cost for storing harvested energy, people are focusing in adopting the conventional energy appliances which can hamper the global energy harvesting market.
Limitations of remotely installed networking modules
Energy harvesting systems are used for small-energy applications in several mobile and portable market. These harvesting systems are used in some appliances that require battery-backups and especially if the battery is remotely located which is difficult to reach. If sensor devices which are used for energy harvesting systems are remotely located, then it will be difficult to collect the data at central receiver.
Due to remotely located modules, signal transmission of sensor devices can be less which limits the use of sensor devices. This limitation can be hinder the global energy harvesting market.
Emerging Opportunities
Increasing adaptation of wireless sensors in wearable watches
The harvested energy is used for small, autonomous electronic devices such as wearable smartwatches. People are focusing on adaptation of smartwatches to track activities and monitoring health. Sensors are widely used for smartwatches to track all the activities. These sensors require long- lasting power supply to deliver accurate data and output. Rising use of sensor-based smart wearables can produces lucrative opportunities for the global energy harvesting market.
Scope of Energy Harvesting Market Report
The global energy harvesting market research report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Energy Harvesting Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2021
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Historic Data
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2019–2020
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Forecast Period
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2022–2030
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Segmentation
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Component (Transducer, Sensor Power Management IC, Secondary/ backup battery), Technology (Vibration Energy Harvesting [Piezoelectric, Electrostatic, Electrodynamic, and Electromagnetic], Light Energy Harvesting, Thermal Energy Harvesting, and Radio Frequency Energy Harvesting), Application (Transportation, Building and Home Applications, Industrial, and Consumer Electronics)
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Regional Scope
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Asia Pacific, North America, Latin America, Europe, and Middle East & Africa
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast
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Key Players Covered in the Report
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Schneider Electric SE; STMicroelectronics; Cymbet; Powercast Corp.; Texas Instruments Incorporated.; Analog Devices, Inc.; Mide Technology Corp.; EnOcean GmbH; ABB; Honeywell International Inc.; Microchip Technology Inc.
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Energy Harvesting Market Segment Insights
Energy harvesting transducers segment to expand at a significant growth rate
Based on components, the energy harvesting market is divided into transducer, sensor power management IC, secondary/ backup battery. The sensor segment accounted more than 32% of revenue share in 2021. The sensors are the key component of the energy harvesting system. These sensors collect ambient kinetic motion, light energy, pressure changes, and temperature differences to convert into energy.
The sensor segment is expected to expand at a significant growth rate during the projected period owing to the rise in use of sensor-based smart wearables which uses sensors to track activity.
However, the transducer segment is anticipated to hold a key share of the market in the coming years due to the rise in use of transducers to convert energy from vibrations, light, pressure, and kinetic force. Transducers are widely used for sensor devices in wireless networks to reduce the use of primary batteries and conventional electric grids. Rapid growth in use of transducers by manufactures to convert the ambient energy can boost the segment.
Vibration energy harvesting segment to register a considerable CAGR
Based on technology, the global energy harvesting market is segregated into vibration energy harvesting, light energy harvesting, thermal energy harvesting, and radio frequency energy harvesting. The vibration energy harvesting segment is further sub-segregated into piezoelectric, electrostatic, electrodynamic, and electromagnetic.
The vibration energy harvesting segment accounted for more than 30% of the global market revenue in 2021. The vibration energy harvesting is the process of converting the vibrational energy into the electric energy. The vibration energy harvesting segment is projected to register a considerable CAGR during the forecast period owing to the rise in use of piezoelectric vibration energy to convert ambient kinetic energy, which is present in the form of vibrations or shocks into electricity.
This energy harvester offers robust solution for converting the wasted vibrational energy which is widely spread in everyday life such as washing machine, refrigerator, and industrial equipment to electric energy. This is one of the major key aspects to boost the segment.
On the other hand, the light energy harvesting segment is anticipated to account for a major market share in the coming years owing to the increase in use of solar energy-based products that comes under the light harvesting sector. This light harvested energy can be used further for various sectors such as consumer electronic devices and building automation.
Major key players are engaged in the production of solar energy-based products which can be a key aspect for the segment to account the considerable CAGR during the forecast period.
Industrial segment to expand at significant rate
Based on the applications, the global energy harvesting market is segmented into transportation, building and home applications, industrial, and consumer electronics. The industrial segment constituted maximum revenue share of more than 28% in 2021. Industrial applications are growing owing to the evolution of Internet of Things (IOT).
Energy harvesting systems are widely used in industrial segment owing to the large amount of ambient energy present in the form of vibrations, shaking, and rotations of the machines and structures present in the industrial factories. Energy harvesting systems can convert this vibration energy to usable energy.
Building and home applications segment is expected to grow at considerable CAGR over the forecast period due to rise in installation of energy harvesting systems for building and home automation. This installation offers an advantage such low maintenance and no disposable batteries for better environmental impact. Energy harvesting system installation for homes offer an advantage of no hardwiring which enables flexibility of distribution which can be a major factor for to boost the segment.
Asia Pacific to dominate the market
In terms of regions, the energy harvesting market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific accounted more than 22.5% of the market revenue in 2021. The market size of Asia Pacific is expected to dominate the market during the projected period owing to the rapid industrialization in countries such as India and China.
Energy harvesting is dependent on the are rapidly growing industrialization and renovation which is increasing in Asia Pacific market. Major key players are also relocating their manufacturing facilities to Asia Pacific. This region is likely to dominate the market over the forecast period owing to the rapid increase tech-savvy population and population in general.
However, the market of the North America is anticipated to expand at a rapid pace during the forecast period owing to the early adaptation of the advanced technologies. North America has the large consumer base for applications which are based on the harvested energy. The energy harvesting market is likely to account the considerable CAGR during the projected period owing to the already established large energy market.
Segments
The global energy harvesting market has been segmented based on
Component
- Transducer
- Sensor Power Management IC
- Secondary/ backup battery
Technology
- Vibration Energy Harvesting
- Piezoelectric
- Electrostatic
- Electrodynamic
- Electromagnetic
- Light Energy Harvesting
- Thermal Energy Harvesting
- Radio Frequency Energy Harvesting
Application
- Transportation
- Building and Home Applications
- Industrial
- Consumer Electronics
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Schneider Electric SE
- STMicroelectronics
- Cymbet
- Powercast Corp.
- Texas Instruments Incorporated.
- Analog Devices, Inc.
- Mide Technology Corp.
- EnOcean GmbH
- ABB
- Honeywell International Inc.
- Microchip Technology Inc.
Competitive Landscape
Key players competing in the energy harvesting market are Schneider Electric SE; STMicroelectronics; Cymbet; Powercast Corp.; Texas Instruments Incorporated.; Analog Devices, Inc.; Mide Technology Corp.; EnOcean GmbH; ABB; Honeywell International Inc.; Microchip Technology Inc. Some of these major companies adopted various business development strategies including mergers, acquisitions, partnerships, collaboration, product launches, and production capacity expansion to expand their consumer base and enhance their market share.
On May 20, 2021, German-based company, EnOcean GmbH presented the PTM525BZ module to expand the range of transmitter modules for battery-free switch applications.
On Feb 25, 2021, a Dutch multinational corporation, STMicroelectronics has announced a new generation of extreme power- saving microcontrollers (MCUs), the STM32U5 series. The main purpose for this installation is to enhance the performance of smart applications such as industrial sensors, home automation, and wearables.
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